Inventory Costing: FIFO

Filimonov Inc. has the following information related to purchases and sales of one of its inventory items:

$\backslash$table$[[$Date$,$Description,Units Purchased at Cost,Units Sold at Retail$],[$June $1,$Beginning inventory,$240$ units @ $$14=$$$3,360,],[9,$Purchase $1,220$ units @ $$20=$$$4,400,],[14,$Sale $1,,350$ units @ $$25$